General Electric: ‘Quite Materially Wrong’

One analyst acknowledges he got his General Electric call wrong, but he's maintaining his Buy rating all the same.

By

Ben Levisohn

July 25, 2017 2:42 p.m. ET

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By

Ben Levisohn

July 25, 2017 2:42 p.m. ET

If any stock could voted most disappointing, it just might be General Electric (GE). The industrial giant has dropped 19% so far this year, and nothing it's done--not merging its oil & gas business withBaker Hughes (BHGE), not announcing a CEO change--has made much of a difference. And last Friday's earnings reinforced just how much work new CEO John Flannery has to do.

Stifel analyst Robert McCarthy and team acknowledge that they have been "quite materially wrong" with their bullish call on General...